FINALS

Question 1

By International diversification strategy is a strategy through which a firm expands the sales of its goods or services across the borders of global regions and countries into a potentially large number of geographic locations or markets.

T OR F

Answer 1

TRUE

Question 2

Licensing is an entry mode in which an agreement is formed that allows a foreign company to purchase the right to manufacture and sell a fins products within a host country’s market or a set of host countries’ markets The licensor is normally paid a royalty on each unit produced and sold.

T OR F

Answer 2

TRUE

Question 3

Regionalization is a second global environmental trend influencing a firm’s choice and use of international strategies.

T OR F

Answer 3

TRUE

Question 4

A global strategy is an international strategy in which a firm’s home office determines the strategies that business units are to use in each country or region.

T OR F

Answer 4

TRUE

Question 5

By expanding the number of markets in which they compete, firms can enjoy economies of scale, particularly in manufacturing operations.

T OR F

Answer 5

TRUE

Question 6

International strategy is a strategy through which the firm sells its goods or services outside its domestic market.

T OR F

Answer 6

TRUE

Question 7

The American Civil War ends : Historians consider the Confederacy to have had better generals, but the Union possessed greater resources. Sometimes good strategies simply cannot overcome stronger adversary.

Answer 7

1865

Question 7

Machiavelli’s bock The Prince offers clever recipes for success to govern.nent leaders. Some of tie book’s suggestions are quite devious, and the word Machiavellian comes to refer to acts of deceit and manipulation. Some of the book’s suggestions are quite devious, and the word Machiavellian comes to refer to acts of deceit and manipulation.

Answer 7

1532

Question 8

Sun Tzu’s The Art of War provides a classic handbook on military strategy with numerous business applications, such as the idea that “win without fighting is best.” This type of approach was used by businesses

Answer 8

530 CE

Question 8

Moses uses hierarchical delegation of authority during the exodus from Egypt. Dividing a large set of people into smaller groups creates a command structure that enables strategies to be implemented.

Answer 8

1491 BC

Question 9

The Strategic Management Journal was created.

Answer 9

1980

Question 10

Person analysis includes identifying the important tasks and knowledge, skills, and behaviors that need to be emphasized in training for employees to complete their tasks.

T or F

Answer 10

FALSE - TASK ANALYSIS

Question 10

An employee sent by his or her company to manage operatons in a different country.

Answer 10

EXPATRIATE

Question 10

The training design process refers to a systematic approach to designing training programs to be effective ana produce learning

T or F

Answer 10

TRUE

Question 11

The motivational approach to job design focuses on the job characteristics that affect the psychological meaning and motivational potential, and it views attitudinal variables as the most important outcomes of job design.

T OR F

Answer 11

TRUE

Question 12

The degree to which the information provided by selection techniques enhances the effectiveness of selecting personnel in organizations

Answer 12

UTILITY

Question 13

The consistency of a performance measure; the degree to which a performance measure is free from random error, refers to the measuring instrument rather than the characteristic itself.

Answer 13

RELIABILITY

Question 14

Vertical expansion of a job by adding planning and decision-making responsibilities

Answer 14

JOB ENRICHMENT

Question 15

Enables job analysts to observe employees in their daily routines. The information collected through observation is extremely useful and reliable since it’s via first-hand knowledge.

Answer 15

OBSERVATION METHOD

Question 16

The questionnaire job analvsis method requires employees, supervisors, and managers to fill out forms, namely questionnaires. It’s one of the most widely used job analysis methods because it’s inexpensive to create and easy to distribute to numerous individuals at a faster rate.

T OR F

Answer 16

TRUE

Question 16

Unstructured interviews follow systematic approach where employees are interviewed accurately and consistently

T or F

Answer 16

FALSE - STRUCTURED

Question 16

A systematic way of determining the value/worth of a job about other jobs in an organization. It tries to make a systematic comparison between jobs to assess their relative worth to establish a rational pay structure.

Answer 16

JOB EVALUATION

Question 17

A regular review of an employee’s job performance and overall contribution to a company. Through job analysis, the organization can identify the behaviors and results that distinguish effective performance from ineffective performance.

Answer 17

PERFORMANCE APPRAISAL

Question 17

The process of increasing the knowledge and skills of an employee ior doing a particular job. It involves the development of skills that are usually necessary to perform a specific job.

Answer 17

TRAINING

Question 18

Identifies the most qualified applicants for employment. It is necessary to determine the task that will be performed by the individual hired and the knowledge, skills, and abilities the individual must have to perform the job effectively.

Answer 18

SELECTION

Question 18

An effort whore job responsibilities and tasks are reviewed, and possibly reallocated among staff, to improve output. Redesigning jobs can lead to improvements in both productivity and job satisfaction.

Answer 18

JOB REDESIGN

Question 19

A systematic investigation of tasks, duties and responsibilities of a job and the necessary knowledge, skills, and abilities of the person who needs to perform the job adequately. Organizations need to understand and match job requirements and people to achieve high-quality performance.

Answer 19

JOB ANALYSIS

Question 19

Use large groups of low-skilled employees to churn out long runs of identical mass products stored in inventories for later sale

Answer 19

BATCH WORK METHODS

Question 20

The processes that emphasize manufacturing goods with a minimum amount of time, materials, money, and people to leverage technology and flexible, well-trained, and skilled personnel to produce more custom products for less

Answer 20

LEAN PRODUCTION

Question 20

The activities that members of a work unit engage in to produce a given output. The process consists of operating procedures and these procedures include all the tasks that must be performed in the production of the output.

Answer 20

WORK PROCESSES

Question 21

Refers to the relatively stable and formal network of vertical and horizontal interconnections among jobs that constitute the organization. After understanding how job relates to different levels and functional areas, we can make informed decisions on how to design or improve jobs to benefit the entire organization

Answer 21

ORGANIZATIONAL STRUCTURE

Question 22

A process of analyzing tasks necessary for the producticn of a product or service, before assigning tasks to a particular job category or person. After thoroughly understanding the workflow design, we can make decisions regarding how to initially bundle various tasks into discreate jobs that can be executed by a single person.

Answer 22

WORK-FLOW DESIGN

Question 23

It consists of the strategies that evolve from the grassroots of the organization and can be thought of as what organizations do, as opposed to what they intend to do

Answer 23

EMERGENT STRATEGIES

Question 24

The planned elimination of large numbers of personnel, designed to enhance organizational effectiveness

Answer 24

DOWNSIZING

Question 24

For a company to have a good strategy foundation, certain lasks must be accomplished in pursuit of the company's goals, individuals must possess certain skills to perform those tasks, and these individuals must be motivated to perform their skills effectively. T or F

Answer 24

TRUE

Question 24

Focus on new market and product development, innovation, and joint venture

Answer 24

INTERNAL GROWTH STRATEGY

Question 24

According to Michael Porter or Harvard, competitive advantage stems from a company s being able to create value in its production process. Value can be created in one of two ways. First, value can be created by reducing costs. Second, value can be created by differentiating a product or service in such a way that it allows the company to charge a premium price relative to its competitors. T/F

Answer 24

TRUE

Question 24

A strategy focusing on increasing market share, reducing costs, or creating and maintaining a market niche for products and services.

Answer 24

CONCENTRATION STRATEGY

Question 25

The role of the HRM function in strategic management is to ensure that the company has the proper number of employees with the levels and types of skills required by the strategic plan. T/F

Answer 25

TRUE

Question 25

Levels of integration focused on day-to-day activities.

Answer 25

ADMINISTRATIVE LINKAGE

Question 26

It allows for consideration of human resource issues during the strategy formulation process

Answer 26

TWO-WAY LINKAGE

Question 26

It is based on continuing rather than sequential interaction.

Answer 26

INTEGRATIVE LINKAGE

Question 27

This is typically done monthly. in addition, top management probably require _________ summarizing data on such key factors as the number of new customer contracts, the volume of received orders, and productivity figures.

Answer 27

PERIODIC STATISTICAL REPORT

Question 28

During strategy formulation and implementation, top management approves a series of programs and supports_______from its business units.

Answer 28

OPERATING BUDGET

Question 29

Which of the following areas the management develops goals and objectives? a.Financial b. Customer c.Internal business perspective. d. Innovation and leaming

Answer 29

ALL OF THE ABOVE

Question 29

Measures that are essential for achieving a desired strategic option.

Answer 29

KEY PERFORMANCE MEASURES

Question 30

Which of the following are the Componens of Strategic Management? a. Environmental Scanning b. Strategy Formulation c. Strategy Implementation d. Evaluation and Control

Answer 30

ALL OF THE ABOVE

Question 30

It can be thought of as "the pattern of planned human resource deployments and activities intended to enable an organization to achieve its
goals "

Answer 30

STRATEGIC HUMAN RESOURCE MANAGEMENT (SHRM)

Question 30

Primarily used in manufacturing facilities. Computed for each operation based on historical data. The result is the expected cost of production, which is then compared to the annual cost of production.

Answer 30

STANDARD COST CENTERS

Question 30

Resources are measured in dollars, without consideration for service or product costs Thus, budgets will have been prepared for engineered expenses (costs that can be calculated) and for discretionary expenses (costs that can be only estimated). It is typically established whenever an organizational unit has control over both its resources and its products or services.

Answer 30

EXPENSE CENTERS

Question 31

Combines financial measures that tell the result-of actions already taken with operational measures on customer satisfaction, internal processes, and the corporation's innovation a.id improvement activities- the drivers of future financial performance.

Answer 31

BALANCED SCORECARD

Question 32

Defined as the present value of the anticipated future stream of cash flows from the business plus the value of the company if liquidated

Answer 32

SHAREHOLDER VALUE

Question 33

What are the traditional financial measures? a. ROI b. EPS c. ROE d. All of the above

Answer 33

ALL OF THE ABOVE

Question 34

A corporatewide, integrated process for managing uncertainties that could negatively or positively influence the achievement of the corporation's objectives.

Answer 34

ENTERPRISE RISK MANAGEMENT

Question 34

Recently developed accounting method for allocating indirect and fixed costs to individual products or product lines based on the value-added activities going into that product.

Answer 34

ACTIVITY-BASED-COSTING

Question 34

Specify how something is to be done through policies, rules, standard operating procedures, and orders from a superior

Answer 34

BEHAVIOR CONTROL

Question 35

Emphasize resources, such as knowledge, skills, abilities, values, and motives of employees.

Answer 35

INPUT CONTROL

Question 36

Specify what is to be accomplished by focusing on the end result of the behaviors through the use of objectives and performance targets or milestones

Answer 36

OUTPUT CONTROL

Question 37

It is the end result of the activity. It is based on the organizational unit to be appraised and the objectives to be achieved.

Answer 37

PERFORMANCE

Question 37

Ensures that a company is achieving what it set out to accomplish. It compares performance.

Answer 37

EVALUATION AND CONTROL